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Deere says Q1 Ag & Turf operating margins were 5.9%

17

Feb

07

Mar

DEDeere

$109.23

0.06 (0.05%)

01/18/17

OTRG

01/18/17NO CHANGEOTRG

North American Farm Equipment sector upgraded to Mixed at OTR Global

OTR Global upgraded the North American Farm Equipment sector to Mixed following positive dealer checks that indicates farm income is better than expected. The firm's analyst now expects 2017 sales to be down 1-4% year-over-year, versus October forecast of down 3-6%.

01/24/17

BREN

01/24/17INITIATIONTarget $90BRENSell

Deere initiated with a Sell at Berenberg

Berenberg analyst Sabastian Juenne initiated Deere with a Sell and a $90 price target. The analyst's 2017 earnings estimate is in-line with consensus but his 2018 earnings forecast is approximately 18% below as he does not expect a meaningful recovery in agricultural equipment spending in North America and Europe in 2018. Juenna said Deere's high exposure to struggling North American and low exposure to resilient markets, could result in a subdued earnings recovery versus more diversified peers.

01/24/17

01/24/17INITIATION

On The Fly: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Deere (DE) initiated with a Sell at Berenberg, while the firm initiated AGCO (AGCO) with a Buy. 2. Douglas Dynamics (PLOW) initiated with a Buy at Craig-Hallum. 3. DCP Midstream (DCP) initiated with an Underweight at Morgan Stanley. 4. TechnipFMC (FTI) initiated with a Buy at Goldman. 5. FS Investment (FSIC) initiated with a Neutral at Janney Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

Cleveland Research analyst Adam Uhlman said the firm's North American ag equipment dealer survey saw a significant increase in demand with 70% of dealers reporting better than expected Q1 sales. Dealers raised their 2017 sales forecast to down 1% year-over-year from down 8% last quarter, with sentiment largely better. Uhlman raised his FY17 earnings forecast to $5.00 from $4.55 and FY18 to $5.50 from $5.00. The analyst rates Deere a Neutral.

AT&T Mobility has reached a tentative agreement with the Communications Workers of America in Mobility Orange contract negotiations. The four-year agreement, which will be submitted to the union's membership for a ratification vote in coming days, covers about 20,000 employees in 36 states and the District of Columbia - AT&T's Mobility Orange unit, which encompasses CWA Districts 1, 2-13, 4, 7 and 9.

Pfizer announced that the United States FDA has approved IXIFI, a chimeric human-murine monoclonal antibody against tumor necrosis factor, as a biosimilar to Remicade for all eligible indications of the reference product. The FDA has approved IXIFI as a treatment for patients with rheumatoid arthritis, Crohn's disease, pediatric Crohn's disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis, and plaque psoriasis.

Western Alliance Bancorporation announced that during the first quarter of 2018 Robert Sarver will transition from Chairman and CEO to Executive Chairman. In conjunction with Sarver's change in role, Ken Vecchione will be promoted to Chief Executive Officer, Dale Gibbons to Vice Chairman and Chief Financial Officer, and James Haught to President and Chief Operating Officer, all effective April 1, 2018.

Aqua America announced that President and CEO Christopher H. Franklin has been elected chairman of the board, effective Jan. 1, 2018. Franklin became CEO in July 2015 and has served on the board of directors since October 2015. He succeeds Nicholas DeBenedictis, former CEO, who will continue to serve on the board as chairman emeritus.